NORTHERN Mindanao’s total tax collections in the third quarter of this year amounted to P2.99 billion, higher by 19 percent compared to last year's figure.
According to a data shown by the National Economic and Development Authority (Neda) in Northern Mindanao, income tax remained the top revenue earner with 61.3 percent share of the total tax takes, followed by value added tax or VAT with a 29.9 percent share, and excise tax with 17.9 percent share.
Neda noted a significant growth in excise tax collections which doubled in the reference quarter, as well as the VAT collections which increased by 32 percent, year-on-year.
Cagayan de Oro City remains the city with the top collections, with a total of 61.1 percent share of total collections, and recorded the highest growth of 26 percent but Neda said that all revenue districts each reported annual gains.
The increase in tax receipts, according to Neda, can be attributed to the tax bureau's major programs which focuses on improving prompt tax compliance of individuals and firms like the “Run After Tax Evaders” (Rate), Oplan Kandado, and improved tax collection efficiency and frontline services through automation.
The third quarter's data is lower than the tax collection recorded in the second quarter of this year, which amounted to P3.43 billion.
In the second quarter, not only did Cagayan de Oro lead the growth rates but Gingoog City also posted a notable collection increase, with growth rates of 41.4 percent and 30.9 percent, respectively.
Collections under the Bureau of Customs fell with quarter receipts which amounted to P2.13 billion, lower by 12 percent than last year's figure.
All, except Ozamis port, recorded decreases in customs takes.
Customs takes in Cagayan de Oro base port, which accounted for 31 percent share of total receipts, declined by 28 percent.
According to the customs bureau, the lower-than-targeted collections are attributed to low crude price in the world market.
However, volume of cargo remained unchanged over the said period.
